Soybean Market Faces Decline Amid Uneven Export Sales
Futures Prices Drop as Cash Beans and Soymeal Face Pressure
Soybeans are experiencing losses of 4 to 6 cents in midday trading. CmdtyView reports that the national front month Cash Bean price is down 5 1/4 cents to $9.32 3/4. In contrast, Soymeal futures have paused their short covering for Friday, declining by $2.70 per ton. Meanwhile, Soy Oil futures are showing slight gains as the day progresses.
Today’s weekly Export Sales report revealed that 978,351 metric tons (MT) of soybeans for the 2024/25 season were sold during the week of December 19. This figure fell short of analysts’ expectations, which ranged from 1 to 1.8 million MT, marking a marketing year low. China emerged as the largest buyer, purchasing 410,600 MT, followed closely by Spain with 259,500 MT. Additionally, another 125,000 MT were sold for the 2025/26 season, exceeding the high-end estimate of 70,000 to 125,000 MT.
Sales of soybean meal reached a total of 485,635 MT, including 389,634 MT for the 2024/25 season. This amount surpassed the estimated range of 200,000 to 450,000 MT, with Colombia purchasing 154,100 MT. Soybean oil sales were reported at 40,400 MT, significantly higher than the market’s expectations of 5,000 to 15,000 MT.
The Buenos Aires Grain Exchange has revised its estimate for Argentina’s soybean acreage to 18.4 million hectares (approximately 45.47 million acres), which is a reduction of 0.2 million hectares (around 500,000 acres) from previous estimates.
January 25 Soybeans are currently priced at $9.82 1/2, a drop of 5 1/2 cents.
Nearby Cash stands at $9.32 3/4, down 5 1/4 cents.
March 25 Soybeans are at $9.91 3/4, down 5 1/2 cents.
July 25 Soybeans have reached $10.14, down 4 1/2 cents.
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data provided in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Nasdaq, Inc.
